value vs. price

[midwestbroker]

The Medicare market is a whole different market though, where premium does not always reflect quality. Since the insurance companies are being funded by Medicare, some lower cost plans may actually be a better fit.

I too have the same close: "I just need to see your red, white, and blue Medicare card and we can have this effective April 1st."

 

[Frank Stastny]

John,

I never give them a choice When selling Med Supps or Advantage plans. I am the "expert" (especially if I have driven 25 miles or more and it is my job to recommend the very best investment for their premium dollar and explain why.

I can blow any argument out of the water as to why Plans F or G are better than Plan D. When I explain to the prospect that they are paying a lot more for an F, paying for benefits that they will most likely never need and aren't getting benefits that could be important to them they want to know where to sign. Also, when companies have an increase Plan F usually takes a much harder hit than Plan D.

I'm speaking about selling in Missouri. I don't know about other states.

I also drop in that conversation that agents work on straight commission and the more expensive a policy the agent sells you, the more he/she makes in commission. That makes a lot of them really perk up.

When I hear a prospect has an F I can almost hear the "ching, ching" of money going into my account.

Giving them a choice is the surest way of having them say, "Well, I think I better study on if for a while". Again you have lost control of the conversation and it is really tough to get it back again. Too many seniors will become confused it you give them choices.

 

[Frank Stastny]

Midwest,

Don't you love the way that works?

Medicare does fund the Advantage companies, but not the insurance companies that sell Med Supps.

I know you knew this but a new agent could get confused if he/she wasn't aware of that.

 

[johnrocks]

I'm just talking about trying to "upsale" when I may give them a choice and as stated I don't always do that choice senario. The older seniors I don't do but some of the younger more astute seniors I do. As far as the f plan I was just using the c or f or whatever as an example,each presentation stands on it's own merit as far as what I do.

 

[Frank Stastny]

John,

I'm not sure what you mean by "up sale". Does that mean you are trying to move them into a more expensive plan?

I was specifically using the F Plan.

My thought is, if I am recommending the best policy for them, and I tell them so, then there can't be any other alternatives.

I have gotten up and started walking for the door if they try to convince me that a Plan D isn't a better investment of their premium dollar as a Plan F. My mother and other relatives have Plan D. Do you think I would sell them a Plan D if I wasn't 100% convinced that it is a "better investment of their premium dollar"? The only thing Plan D doesn't pay that is of concern it the Medicare Part B deductible.

If I sell them a Plan F, and if another agent who feels as I do knocks on the door, he is going to tell them the same thing I told them about Plan F. Then I'm a "bad guy" for "ripping them off" by selling them a Plan F.

I just don't do it. If they insist on an F then I suggest they get is from someone else. Again, I'm talking about selling Supps in Missouri.

I find that the older ones understand value and savings as much as the younger ones.

 

[johnrocks]

Your misunderstandind Frank I also sell Plan D I was just using that as an EXAMPLE lol as far as upselling I am just talking about adding final expense or conv. care(only if they need it) to there plan. And the older ones are understanding of value(maybe more so)

 

[Frank Stastny]

John,

Please accept my apology. Guess I stuck my foot in that one.

It just "ruffles my feathers" when agents tell seniors that they "have to have a Plan F" or they are "putting themselves at great financial risk" just to make a couple bucks more in commission. Again, in Missouri.

Another example why e-mail and posts are a poor substitute, many times, for a phone call or a meeting in person.

I'll try to keep my feathers a little smoother.

Sorry about that buddy.

 

[senior-advisor-indiana]

In most of my companies the plan E is cheaper than D. My understanding is that the at home recovery benefit is paid by Medicare in full. Do you guys present that benefit as useful?

Is anybody selling plans K and L? I have heard of them, never seen them. Who has them and are tHEy good? How are the prices?

 

[johnrocks]

John,

Please accept my apology. Guess I stuck my foot in that one.

It just "ruffles my feathers" when agents tell seniors that they "have to have a Plan F" or they are "putting themselves at great financial risk" just to make a couple bucks more in commission. Again, in Missouri.

Another example why e-mail and posts are a poor substitute, many times, for a phone call or a meeting in person.

I'll try to keep my feathers a little smoother.

Sorry about that buddy.

I still love ya dude

 

[Frank Stastny]

Senior,

The "at home recovery" benefit is only $40.00 per day for 40 days or $1,600 per year.

Yes, I mention that as a benefit that Plan F does not cover.